How Prophecy cut forex costs by more than 50% with Xflow
From opaque bank rates and delayed bookings to transparent pricing, market insights, and conversions on their own terms.
50%
Reduction in FX costs
10/10
Customer support
100%
Visibility on transfers
Use case
Prophecy has an overseas entity that regularly sends funds to its Indian entity (Gondor Analytics, its cost plus subsidiary entity) to cover operating costs. These are large inward remittances, with single withdrawals often running into hundreds of thousands of dollars. At that volume, even a small gap between the conversion rate and the market rate becomes a significant cost over the year. The finance team needed a provider that showed exactly what rate it was getting, let them time conversions well, and fit alongside the company's existing banking arrangements.
Problem summary
Before Xflow, Prophecy converted its foreign inflows through its existing bankers. The biggest issue was transparency. The team could see the spot rate online, but the bank priced conversions off its own interbank reference rate, and the gap between the two was never clear. Booking a rate was also harder than it should have been. Every conversion depended on a banker being available on a call at that exact moment, and oftentimes conversion windows were much shorter and inflexible.
Why Xflow
Prophecy switched to Xflow for transparency, cost savings, and speed of execution. Onboarding and KYC were also quick. Once Prophecy started using the platform, the Xflow team helped them coordinate with their bank directly and set up the operating process, then stayed hands-on.
Results
Since switching to Xflow, Prophecy has cut its forex costs by more than 50% compared with its previous banking setup. The team can now verify the savings on every conversion and project them across the year. Xflow's market insights have added further gains. By timing conversions using the right insights, Prophecy now gets the most of every dollar they earn. Xflow team also takes care of all the compliance and documentation support that Prophecy needs for moving their funds smoothly.
Impact on Prophecy's business
Reduction in FX costs
More than 50% savings compared with the rates Prophecy's existing bankers charged.
Full rate transparency
Clear visibility into the rate and cost of every FX conversion.
FX rate lock
Limit orders that help the team lock good rates & time conversions better.
Speedy settlements
Bank level safety, conversions outside banking hours, and same-day execution.
“With Xflow, what I liked most is the execution discipline and speed. The team goes to the root of the problem and gives insights around it. My advice to any finance team: understand your bank rates, have a conversation with Xflow, and explore the portal. You'll see the difference.”
Sri Harsha K, Finance Controller at Prophecy
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